Yang Hyun Suk, Lee Soo Man, And Park Jin Young Experience Decline In Stock Asset Value
With entertainment stock prices plunging, celebrity stockholders’ assets also fell.
According to chaebul.com (based on stats from August 30), the stock assets of Yang Hyun Suk decreased by 86.3 billion won (approximately $71 million), which was a 54.4 percent decrease from last year. YG Entertainment’s stocks fell 55.4 percent from from 47,500 won (approximately $39.19) to 21,200 won (approximately $17.49) over the cited period reportedly due to tax audits by the National Tax Service, the Burning Sun scandal, and a drug scandal. Yang Hyun Suk resigned as the general manager, but based on this year’s semi-annual report, he is the largest shareholder of YG with a 16.11 percent stake in the company.
The stock value of Lee Soo Man also dropped by 98.4 billion won (approximately $81 million), which was a 47.7 decrease from last year. Like Planning, which Lee Soo Man owns 100 percent of, received a royalty equivalent to 44 percent of SM’s operating profits over the past five years. SM Entertainment’s shares have fallen 43 percent this year.
The stock assets of actor Bae Yong Joon, who received SM shares after the merger between KeyEast Entertainment and SM Entertainment, also decreased by 43 percent.
During the same period, Park Jin Young also saw his stock assets fall by 69.8 billion won (approximately $58 million), which is a 36.7 percent decrease from last year. The share values were reportedly affected by the deepening bilateral conflict between South Korea and Japan.
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